Aqua America Announces Election of New Director

Insurance Weekly News

By a News Reporter-Staff News Editor at Insurance Weekly News -- Aqua America, Inc. (NYSE:WTR) announced that its board of directors has unanimously appointed Daniel J. Hilferty, president and chief executive officer of Independence Health Group as its newest director. At Independence, Hilferty leads the $16.7 billion health insurer headquartered in Philadelphia. Since Hilferty became CEO in 2010, the number of people the company and its affiliates serve has tripled to nearly 8.6 million in 25 states and the District of Columbia.

In his role as president and CEO of Independence, Hilferty has built business collaborations with world-renowned institutions such as the University of Pennsylvania to conduct cutting-edge research and partnered with Blue Cross and Blue Shield plans and other leaders in health care to purchase dynamic health care companies, including AmeriHealth Caritas, one of the country's largest Medicaid managed care companies.

Hilferty's leadership, benevolence and business acumen will all benefit Aqua's customers, employees and shareholders, Aqua America President and CEO Christopher Franklin said.

"Dan will bring innovation and vision to our stakeholders," Franklin said. "I'm particularly impressed by the growth he's been able to effect during his tenure at Independence, as well as his commitment to philanthropy. All these factors align well with Aqua's mission, vision and values. I look forward to welcoming him as a remarkable complement to the board."

Hilferty serves on a variety of corporate and non-profit boards including the Greater Philadelphia Chamber of Commerce, FS Investment Corporation III, and the executive committee of the board of directors of America's Health Insurance Plans. Hilferty also serves as chairman of the board of directors for the Blue Cross Blue Shield Association.

Aqua's newest director holds a Bachelor of Science in Accounting from Saint Joseph's College (now Saint Joseph's University) and a Master of Public Administration from American University.

Aqua America is one of the largest U.S.-based, publicly traded water utilities and serves nearly 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. Visit AquaAmerica.com for more information.